Reserve Bank of India has given its nod for the reverse merger of IDFC Ltd with its banking subsidiary IDFC First Bank. The boards of IDFC First Bank and IDFC have approved the reverse merger in July. “…...
IDFC gets CCI nod for merger with IDFC First Bank
The Infrastructure Development Finance Company (IDFC) has received approval from the Competition Commission of India (CCI) for its merger with IDFC First Bank, a regulatory filing stated on October 17. “…the CCI...
India’s IDFC to merge with IDFC First Bank in latest consolidation
IDFC First Bank said its board had given the green light for a merger with IDFC Ltd, just days after the landmark $40 billion merger between Housing Development Finance Corp and HDFC Bank came into effect. IDFC Ltd...
NCLT admits Marvel Realtors under insolvency on IDFC First Bank plea
The bankruptcy court has admitted Marvel Realtors & Developers Ltd under the corporate insolvency resolution process (CIRP) and appointed Manoj Kumar Mishra as the interim resolution professional for the Pune-based...
IDFC merger may be delayed on fair value issue
The merger of parent IDFC Ltd with its unit IDFC First Bank is likely to take longer than expected as the managements of both the institutions are looking to extract value for their respective shareholders, said two...
Niva Bupa and IDFC First Bank partner for bancassurance
Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company), has announced its corporate agency partnership with IDFC First Bank to provide best-in-class health insurance solutions...
CCI clears Rs 4,500 crore deal between Bandhan Fin Holdings-led consortium, IDFC
The Competition Commission of India (CCI) on Tuesday approved the proposed Rs 4,500 crore deal wherein the Bandhan Financial Holdings-led consortium will buy stakes in IDFC Asset Management and IDFC AMC Trustee. The...
Bandhan-led group to buy IDFC MF, deal valued at ₹4,500 crore
Bandhan Financial Holdings won the bid to buy IDFC Asset Management Company in a deal valued at ₹4,500 crores, marking the entry of a financier that began its life as a bottom-of-the-pyramid lender into the ritzy...
Markets give thumbs up to IDFC-IDFC First Bank merger plan
Shares of IDFC First Bank and IDFC Ltd surged on the bourses on Friday after the bank announced that its board of directors were in favour of the merger with IDFC Ltd and IDFC Financial Holding. While IDFC Ltd rose more...
IDFC First Bank board favours merger with promoter entities
IDFC First Bank on Thursday said its board has favoured the merger IDFC Ltd and IDFC Financial Holding Co Ltd (promoter group) with the bank. The board of directors of the bank in a meeting held on December 30, 2021...
IDFC First partners up with HPCL to facilitate fuel payments using FASTag
IDFC First Bank has partnered with Hindustan Petroleum Corporation Ltd (HPCL) to facilitate fuel payments at their retail outlets using the bank’s FASTags. In addition, IDFC First Bank’s FASTags can now also be bought...
IDFC’s reverse merger with bank faces hurdles
IDFC Ltd, the parent of IDFC Bank, on Tuesday indicated to investors that it faced challenges in pursuing a reverse merger with IDFC First Bank. According to analyst present in the meeting the management said that the...